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Argentina Moves to Halt YPF Discovery in U.S. Court After Rejecting Gold-Reserve Demands

The government argues central bank assets are immune, requesting Judge Loretta Preska pause sanctions efforts during the appeal.

Overview

  • Argentina filed to suspend the discovery process, seeking to stop the production of officials’ chats and emails and to halt the plaintiffs’ contempt motion.
  • The state refused to disclose the location and use of the Banco Central’s gold and declined to produce Economy Minister Luis Caputo for testimony.
  • Officials said they will send formal information requests to the Banco Central, the Auditoría General de la Nación, and the Ministry of Security regarding gold data.
  • The government’s filing asserts the Banco Central is legally separate and its gold reserves are protected from execution by sovereign and central bank immunity.
  • Creditors led by Burford Capital continue asset discovery to enforce a roughly US$16.1 billion judgment, with further submissions due on February 19 as Judge Preska weighs the stay request and the Second Circuit reviews the appeal.